Electric utility regulation; recovery of certain generation facility costs, etc. (HB1059)

Introduced By

Del. Terry Kilgore (R-Gate City)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Electric utilities; generation facility cost recovery. Limits the portion of the costs incurred by an investor-owned electric utility between July 1, 2007, and December 31, 2013, in developing a nuclear power facility or an offshore wind project that are recoverable through a rate adjustment clause to 30 percent of such amount. The remaining 70 percent of such costs will be recoverable only through existing base rates in the test periods under review in the utility's next biennial review filed after July 1, 2014. All of the costs incurred after December 31, 2013, will be recoverable through a rate adjustment clause as may be approved by the State Corporation Commission. The measure also amends a provision that currently states that nothing precludes the Commission from determining the reasonableness or prudence of any cost incurred or projected to be incurred by a utility. As revised, contradictory provisions that limit the Commission's ability to make such determinations will control. Amends § 56-585.1, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2014Committee
01/08/2014Presented and ordered printed 14103508D
01/08/2014Referred to Committee on Commerce and Labor
01/14/2014Impact statement from SCC (HB1059)
01/15/2014Assigned C & L sub: Special Subcommittee on Energy
01/23/2014Impact statement from SCC (HB1059)
01/30/2014Subcommittee recommends reporting with amendment(s) (10-Y 2-N)
02/04/2014Reported from Commerce and Labor with substitute (18-Y 2-N) (see vote tally)
02/04/2014Committee substitute printed 14104219D-H1
02/06/2014Read first time
02/07/2014Passed by for the day
02/10/2014Read second time
02/10/2014Committee substitute agreed to 14104219D-H1
02/10/2014Amendments # 1-4 and 6-9 by Delegate Ware rejected
02/10/2014Amendments # 5 and 10 by Delegate Ware rejected
02/10/2014Engrossed by House - committee substitute HB1059H1
02/11/2014Read third time and passed House (73-Y 23-N 2-A)
02/11/2014VOTE: PASSAGE (73-Y 23-N 2-A) (see vote tally)
02/11/2014Reconsideration of passage agreed to by House
02/11/2014Passed House (76-Y 20-N 3-A)
02/11/2014VOTE: PASSAGE #2 (76-Y 20-N 3-A) (see vote tally)
02/12/2014Constitutional reading dispensed
02/12/2014Referred to Committee on Commerce and Labor
02/17/2014Impact statement from SCC (HB1059H1)
03/03/2014Continued to 2015 in Commerce and Labor (13-Y 0-N) (see vote tally)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 39 minutes.

Comments

Erica Gray writes:

We do NOT need or want a third nuclear reactor at North Anna on the fault line!

Erica Gray writes:

NO to a third nuclear reactor at North Anna on the fault line!
Virginians want safe clean renewable energy sources.
We already have enough nuclear waste,that is toxic for thousands of years and with NO where for it to go.
We need to STOP making more of it and move away from nuclear energy!!!!

W.R. Hines writes:

An article describing and exposing the true intent of this bill is at the online Richmond Times Dispatch, dated Sunday, Jan. 19, 2014. The author is Jeff Shapiro, and the headline reads: Jeff Shapiro: Biggest of the big boys throws its weight around - again

Erica Gray writes:

2/1/14 Proposed utility law could have big impact
http://www.timesdispatch.com/business/energy/proposed-utility-law-could-have-big-impact/article_cc13dfaf-dd41-5dc9-846b-880e3ab0547a.html

Looks like Dominion is covering all bases with this bill and SB 459 Electric utility regulation; recovery of nuclear refueling costs.
http://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+SB459